All Forum Posts by: Lokesh W.

So far I have received rent from 2 out of 6 tenants. I am applying for some stimulus loans from SBA. Let's see what happens. I will send an email to the senator about this.

@Irina C., this is so sad. You can provide negative feedback on real estate forums like this one. Currently, I am reading his book purchased from Amazon. I like the due diligence part of it so far. I decided do a Google search and came to this post. I'm glad I read the discussion. I will complete the book and provide some feedback on Amazon.

@William Coet, thanks , I will contact landlord associations. In addition, I will contact governors office who sent out this bill. My mortgage and property insurance comes out of the rents I receive.

In Wisconsin, there is similar bill for 60 days. My lender says pay mortgage using reserves. In WI, there will be no eviction or foreclosure for 60 days. Any suggestions?

In Wisconsin, the government has sent out an order that we cannot file for eviction until 60 days. It also says there will be no foreclosure for 60 days too. What should I do? I asked my lender and they say that we have to pay mortgage using the reserves. Should I pay mortgage or not? I am expecting some tenants not paying mortgage.

Thanks for your responses. I meant Cash-out refinance vs. Home equity line of credit (HELOC). I just copied the banker's email that said do you want cash out refinance or use the 5-unit property as a collateral. I am leaning towards cash out refinance. It looks like HELOC has disadvantages.

@Matthew Meunier, very cool!

Hello,

I know that this may have been discussed in earlier. Are there ways to buy rental property with down payment less than 20%?

Hello Everyone,

I have owned this rental property for a few years now and I want to use 50K of the equity as a down payment to buy another property. The lending bank said they can do this either by cash out refinance or using the property as a collateral. I have read few articles about the pros and cons of these 2 ways of using equity. If any of you have borrowed money against the equity of an existing property, can you please provide me some suggestions on the pros and cons.

Any suggestions are greatly appreciated.

Thanks

Lokesh

@Matthew Meunier, Congratulations! Which neighborhood in Milwaukee is your new acquisition?